Yoga Market Estimated to Grow at a CAGR of 18.2 % during Forecast Period 2018-2028 || EuProMed s.r.o., Airex A.G, SPRI Products Inc., Under Armor Inc. Cosco (India) Ltd, Everlast Worldwide Inc.
Personal Exercise Mats Market in Numbers
Personal exercise mats market was valuated at ~US$ 2 Bn in 2018. The proliferating trend of ‘health & fitness’ and rising preference for gyming and yoga are touted as the key demand determinants.
Estimated to witness a robust ~7% CAGR through 2028, the personal exercise mats market is likely to remain influenced by the growing consumer awareness about the preventative care.
North America is anticipated to be the leading market for personal exercise mats, in line with the growing number of yoga studios, fitness clubs, and wellness centers. Institutional buyers have been promoting personal exercise mats among consumers, within the region.
Looking at the expanse of health & fitness industry across the South Asian region, it is likely to remain a high growth market for personal exercise mats sales.
Use of sustainable materials in the making of personal exercise mats is currently trending among leading manufacturers.
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According to the Fact.MR study, the global personal exercise mats market will remain a fragmented landscape, where global leaders, such as EuProMed s.r.o., Lotus Design, Airex AG, Baya, Ecoyoga Ltd., and Equilibrium DFS are augmenting their R&D investments, targeting innovative product line-ups. A majority of leading brands competing in the personal exercise mats industry are benefiting from the rising potential of European market, and are likely to rely majorly on E-commerce for yoga mats sales.
The mid-level players, such as
Shenzhen Haifuxing Technology Co. Ltd.,
Yoga Design Labs
are introducing novel low-cost variants to hold a significant revenue share in the market. Launch of promising products that are closely aligned with shifting customer preference holds a competitive advantage in the personal exercise mats market.
On the other side, market challengers are focused on innovations in personal exercise mats that are based on a mix of technology and research, ultimately delivering novel offerings in the sticky mats category. Several companies also focus on experimentation around the ‘sticky factor’ of personal exercise mats so as to cater to a diverse range of demands of exercise enthusiasts.
Development of value added and multi-purpose personal exercise mats, such as mats for yoga, Pilates, and other fitness activities will remain a key focal point of a number of participants in the personal exercise mats market. Intelligent sales management has identified to emerge as a profitable strategic move for various competitors in the personal exercise mats market. Brands that are investing in intelligent sales management are particularly attracting customers through lucrative discount offers on E-commerce platforms. Growing focus of manufacturers on offering high quality mats that are pleasant to touch, do not absorb sweat, comfortable, long-lasting, reasonably priced is likely to intensify demand.
Key Factors Determining Growth of the Personal Exercise Mats Market
Growing adoption for yoga and other fitness programs, coupled with shifting focus of consumers to total well-being, has been substantially favoring the sales of personal exercise mats, such as yoga mats. The expanding workout and wellness culture continues to nourish the growth of manufacturers that are offering value added products with appealing discounts.
The proliferating health and wellness industry, primarily driven by influencers and celebrities that are increasingly sharing daily workout regimes on social channels, continue to keep personal exercise mats market attractiveness intact, particularly among millennial. Growing focus of brands on leveraging celebrity impact to appeal consumers to make a purchasing decision is likely to reinforce the position of personal exercise mats market in near future.
While consumers are feeling the pinch of rising health care costs, a plethora of physical wellness related activities have taken a center stage in their life. Brands are capitalizing on consumers’ increased focus on health and wellness with their multipurpose product offerings, such as personal exercise mats for yoga and fitness activities.
Growing focus of manufacturers on offering eco-friendly and non-toxic material based personal exercise mats in line with shifting consumer preference for greener products is likely to translate into steady growth of the market. Development of yoga mats that are composed of recycled foam to offer the highest level of comfort and stability to the customers has witnessed a marked adoption in recent years.
Rising popularity of yoga, particularly in Western countries is favoring the sales of yoga equipment and accessories, such as mats.
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